Range Resources Co. (NYSE:RRC) Receives $41.71 Consensus Target Price from Brokerages

Shares of Range Resources Co. (NYSE:RRC) have been assigned a consensus rating of “Hold” from the twenty-two research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.81.

RRC has been the subject of several research analyst reports. Raymond James lifted their target price on Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. UBS Group reduced their price objective on shares of Range Resources from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price objective on shares of Range Resources in a research report on Friday. Morgan Stanley raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $40.00 to $49.00 in a report on Wednesday, March 26th. Finally, Roth Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th.

Range Resources Price Performance

Shares of RRC opened at $33.31 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $35.62. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same period in the prior year, the firm earned $0.63 EPS. On average, research analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Institutional Trading of Range Resources

Large investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. raised its stake in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after acquiring an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Range Resources during the 4th quarter valued at approximately $33,684,000. Amundi increased its position in Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after purchasing an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after buying an additional 605,315 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.